EXHIBIT 99.1
 
 For release at 6:30 a.m.
 Contacts:
 DUSA Pharmaceuticals Reports
First Quarter 2009 Corporate Highlights and Financial Results
 Q1 Domestic PDT Revenues up 21% year over year;
BLU-U ® unit sales up 45%
 WILMINGTON, Mass.  May 12, 2009 ® ®
 Highlights for the first quarter include:
 
    
    Domestic PDT revenues for the first quarter of 2009 improved by $1.1 million or 21% as
compared to the first quarter of 2008.
    
    Domestic Kerastick® revenues for the quarter increased by $0.9 million or 19%
year over year.
    
    There were 81 BLU-U® units sold during the first quarter of 2009,
representing a 45% increase over the first quarter of 2008.
 Management Comments:
 ®
 ®
 ®
 ®




---



##### 



®
 First Quarter 2009 Financial Results:
 ® ® ® ® ® ® ® ® ®
    Other Updates:
 
    
    Clinical Development
 
    
    On May 11, 2009, the Company announced the initiation of its Phase II
clinical trial that will examine the safety and efficacy of broad area PDT for the
treatment of actinic keratoses and the reduction of new non-melanoma skin cancer
(NMSC) in high risk chronically immunosuppressed SOTRs. The 36 patient
multi-center pilot study will examine SOTRs with a history of multiple annual
squamous cell carcinomas to determine the efficacy of multiple courses of
Levulan® plus BLU-U® treatments over a one year timeframe.
The Company is seeking orphan drug designation (ODD) with respect to the prevention
of cancer occurrence in these




---



##### 



patients. An ODD application has been filed with the FDA and the Company is awaiting
the agencys decision.
 
    
    Nicomide®
 
    
    On April 27, 2009, the Company announced that it had amended its
existing non-exclusive license agreement with Rivers Edge, granting them an
exclusive license to the patent that covers Nicomide® (U.S. Patent No.
6,979,468) and associated know-how, as well as a license to use the trademark
associated with the licensed products. Under the amendment to the license, DUSA is
required to transfer all of its rights, title and interest in and to DUSAs patent,
know-how and trademark relating to the licensed products (but not the copyright
registration on the product labeling) to Rivers Edge upon DUSAs receipt of $5.0
million.




---



##### 



3-months ended March 31,2009
    
    
    2008(Unaudited)
    
    
    (Unaudited)PDT Drug & Device Product RevenuesKerastick® Product Revenues:United States
    
    $
    5,685,000
    
    
    $
    4,774,000Canada
    
    
    135,000
    
    
    
    159,000Korea
    
    
    170,000
    
    
    
    365,000Rest of World
    
    
    87,000
    
    
    
    56,000Subtotal Kerastick® Product Revenues
    
    
    6,077,000
    
    
    
    5,354,000BLU-U® Product Revenues:United States
    
    
    642,000
    
    
    
    476,000Canada
    
    
    
    
    
    
    Subtotal BLU-U® Product Revenues
    
    
    642,000
    
    
    
    476,000Total PDT Drug & Device Product Revenues
    
    
    6,719,000
    
    
    
    5,830,000Total Non-PDT Drug Product Revenues
    
    
    419,000
    
    
    
    2,100,000TOTAL PRODUCT REVENUES
    
    $
    7,138,000
    
    
    $
    7,930,000




---



##### 



March 31,2009
    
    December 31,(Unaudited)
    
    2008ASSETSCURRENT ASSETSCash and cash equivalents
    
    $
    3,670,824
    
    
    $
    3,880,673Marketable securities
    
    
    14,240,337
    
    
    
    15,002,830Accrued interest receivable
    
    
    97,217
    
    
    
    155,728Accounts receivable, net
    
    
    2,124,394
    
    
    
    2,367,803Inventory
    
    
    2,536,328
    
    
    
    2,812,825Prepaid and other current assets
    
    
    1,285,129
    
    
    
    1,718,073TOTAL CURRENT ASSETS
    
    
    23,954,229
    
    
    
    25,937,932Restricted cash
    
    
    173,976
    
    
    
    173,844Property, plant and equipment, net
    
    
    1,835,397
    
    
    
    1,937,978Deferred charges and other assets
    
    
    149,856
    
    
    
    160,700TOTAL ASSETS
    
    $
    26,113,458
    
    
    $
    28,210,454LIABILITIES AND SHAREHOLDERS EQUITYCURRENT LIABILITIESAccounts payable
    
    $
    386,471
    
    
    $
    305,734Accrued compensation
    
    
    554,262
    
    
    
    1,515,912Other accrued expenses
    
    
    3,604,287
    
    
    
    3,226,571Deferred revenue
    
    
    944,775
    
    
    
    611,602TOTAL CURRENT LIABILITIES
    
    
    5,489,795
    
    
    
    5,659,819Deferred revenues
    
    
    3,586,780
    
    
    
    4,157,305Warrant liability
    
    
    571,370
    
    
    
    436,458Other liabilities
    
    
    230,661
    
    
    
    244,673TOTAL LIABILITIES
    
    
    9,878,606
    
    
    
    10,498,255SHAREHOLDERS EQUITYCapital stockAuthorized: 100,000,000 shares;
40,000,000 shares designated as common
stock, no par, and 60,000,000 shares
issuable in series or classes; and 40,000
junior Series A preferred shares.
24,089,452 common shares issued and
outstanding at March 31, 2009 and
December 31, 2008, no par, common
    
    
    151,663,943
    
    
    
    151,663,943Additional paid-in capital
    
    
    7,714,027
    
    
    
    7,514,900Accumulated deficit
    
    
    (143,457,856
    )
    
    
    (141,850,925
    )Accumulated other comprehensive loss
    
    
    314,738
    
    
    
    384,281TOTAL SHAREHOLDERS EQUITY
    
    
    16,234,852
    
    
    
    17,712,199TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
    
    $
    26,113,458
    
    
    $
    28,210,454




---



##### 



3-months ended March 31,2009
    
    
    2008(Unaudited)
    
    
    (Unaudited)Product revenues
    
    $
    7,138,269
    
    
    $
    7,929,500Cost of product revenues and royalties
    
    
    1,938,226
    
    
    
    1,700,317Gross margin
    
    
    5,200,043
    
    
    
    6,229,183Operating costs:Research and development
    
    
    1,185,095
    
    
    
    2,186,209Marketing and sales
    
    
    3,410,104
    
    
    
    3,057,201General and administrative
    
    
    2,141,450
    
    
    
    2,367,824Net gain on settlement of litigation
    
    
    
    
    
    
    (235,600
    )Total operating costs
    
    
    6,736,649
    
    
    
    7,375,634Loss from operations
    
    
    (1,536,606
    )
    
    
    (1,146,451
    )Other income:Other Income, net
    
    
    64,587
    
    
    
    206,852Loss on change in fair value of warrants
    
    
    (134,912
    )
    
    
    (344,542
    )Net loss
    
    $
    (1,606,931
    )
    
    $
    (1,284,141
    )Basic and diluted net loss per common share
    
    $
    (0.07
    )
    
    $
    (0.05
    )Weighted average number of common shares
    
    
    24,089,452
    
    
    
    24,078,418




---



##### 



Use of Non-GAAP Financial Measures
   3-months ended March 31,2009
    
    
    2008GAAP net loss
    
    $
    (1,606,931
    )
    
    $
    (1,284,141
    )Share-based compensation (a)
    
    
    199,127
    
    
    
    331,638Loss on change in fair value of warrants (b)
    
    
    134,912
    
    
    
    344,542Non-GAAP adjusted net loss
    
    $
    (1,272,892
    )
    
    $
    (607,961
    )Non-GAAP basic and diluted net loss per
common share
    
    $
    (0.05
    )
    
    $
    (0.03
    )Weighted average number of common shares
    
    
    24,089,452
    
    
    
    24,078,418
 
 (a)
    
    Share-based compensation expense resulting from the application of SFAS 123(R).(b)
    
    Non-cash loss on change in fair value of warrants.




---



##### 



Conference Call Details and Dial-in Information
  th
           About DUSA Pharmaceuticals
 ® ® ® ®
 ®